EURAUD - Downward trend will continue, Short trade by market price recommended
September 15, 2020 9:29:58 AM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.618)
-105 p
1.6340
Stop Loss
1.6235
Entry
+85 p
1.6150
Target 1
+105 p
1.6130
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 0
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Chart & Analyst Comments
For today's forecast, we recommend a Sell Order at this recommended market price - 1.6235. This idea is based on the following analysis:
- According to the most brokers’ data, more than half of the traders are currently in long positions on EURAUD. As a result, we recommend considering only Short trades at this time.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
